SIVR vs. PICK

Last updated Jun 4, 2026

SIVR (abrdn Physical Silver Shares ETF) and PICK (iShares MSCI Global Select Metals & Mining Producers ETF) are both exchange-traded funds - SIVR is a Silver fund tracking the LBMA Silver Price ($/ozt), while PICK is a Materials fund tracking the MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver Investable Market Index. Both are passively managed. Over the past 10 years, SIVR returned 15.77%/yr vs 17.67%/yr for PICK. At a 0.40 correlation, their price movements are largely independent. SIVR charges 0.30%/yr vs 0.39%/yr for PICK.

Performance

SIVR vs. PICK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Silver Shares ETF (SIVR) and iShares MSCI Global Select Metals & Mining Producers ETF (PICK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIVR achieves a 2.85% return, which is significantly lower than PICK's 30.58% return. Over the past 10 years, SIVR has underperformed PICK with an annualized return of 15.77%, while PICK has yielded a comparatively higher 17.67% annualized return.

SIVR

• 1D: -2.62%
• 1M: 0.42%
• YTD: 2.85%
• 6M: 24.90%
• 1Y: 110.95%
• 3Y*: 45.38%
• 5Y*: 21.00%
• 10Y*: 15.77%

PICK

• 1D: -2.74%
• 1M: 11.27%
• YTD: 30.58%
• 6M: 38.84%
• 1Y: 88.13%
• 3Y*: 22.92%
• 5Y*: 11.78%
• 10Y*: 17.67%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SIVR vs. PICK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIVR abrdn Physical Silver Shares ETF	2.85%	145.34%	21.08%	-0.91%	2.59%	-12.33%	47.52%	15.17%	-8.96%	5.97%
PICK iShares MSCI Global Select Metals & Mining Producers ETF	30.58%	51.89%	-16.37%	9.69%	2.54%	22.61%	27.46%	16.47%	-18.65%	38.42%

Correlation

The correlation between SIVR and PICK is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012	0.40

Over the past year, SIVR and PICK have become more correlated (0.65) than their long-term average of 0.40, meaning their price movements have been converging.

Return for Risk

SIVR vs. PICK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SIVR

SIVR Risk / Return Rank: 48
SIVR Sharpe Ratio Rank: 54
SIVR Sortino Ratio Rank: 39
SIVR Omega Ratio Rank: 56
SIVR Calmar Ratio Rank: 52
SIVR Martin Ratio Rank: 36

PICK

PICK Risk / Return Rank: 84
PICK Sharpe Ratio Rank: 90
PICK Sortino Ratio Rank: 79
PICK Omega Ratio Rank: 83
PICK Calmar Ratio Rank: 83
PICK Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SIVR vs. PICK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Silver Shares ETF (SIVR) and iShares MSCI Global Select Metals & Mining Producers ETF (PICK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	SIVR	PICK	Difference
Sharpe ratio Return per unit of total volatility	1.90	3.16	-1.26
Sortino ratio Return per unit of downside risk	2.07	3.63	-1.56
Omega ratio Gain probability vs. loss probability	1.35	1.51	-0.15
Calmar ratio Return relative to maximum drawdown	2.63	4.53	-1.90
Martin ratio Return relative to average drawdown	5.67	18.20	-12.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIVR vs. PICK - Sharpe Ratio Comparison

The current SIVR Sharpe Ratio is 1.90, which is lower than the PICK Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of SIVR and PICK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SIVR	PICK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	3.16	-1.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.43	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.62	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.21	+0.11

Drawdowns

SIVR vs. PICK - Drawdown Comparison

The maximum SIVR drawdown since its inception was -75.85%, which is greater than PICK's maximum drawdown of -68.87%. Use the drawdown chart below to compare losses from any high point for SIVR and PICK.

Drawdown Indicators

	SIVR	PICK	Difference
Max Drawdown Largest peak-to-trough decline	-75.85%	-68.87%	-6.98%
Max Drawdown (1Y) Largest decline over 1 year	-42.42%	-19.54%	-22.88%
Max Drawdown (3Y) Largest decline over 3 years	-42.42%	-32.52%	-9.90%
Max Drawdown (5Y) Largest decline over 5 years	-42.42%	-36.37%	-6.05%
Max Drawdown (10Y) Largest decline over 10 years	-42.42%	-52.72%	+10.30%
Current Drawdown Current decline from peak	-37.25%	-2.74%	-34.51%
Average Drawdown Average peak-to-trough decline	-47.85%	-24.12%	-23.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.64%	4.86%	+14.78%

Volatility

SIVR vs. PICK - Volatility Comparison

abrdn Physical Silver Shares ETF (SIVR) has a higher volatility of 16.28% compared to iShares MSCI Global Select Metals & Mining Producers ETF (PICK) at 10.99%. This indicates that SIVR's price experiences larger fluctuations and is considered to be riskier than PICK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIVR	PICK	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.28%	10.99%	+5.29%
Volatility (6M) Calculated over the trailing 6-month period	58.30%	24.11%	+34.19%
Volatility (1Y) Calculated over the trailing 1-year period	58.84%	28.10%	+30.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.17%	27.78%	+8.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.87%	28.37%	+3.50%

SIVR vs. PICK - Expense Ratio Comparison

SIVR has a 0.30% expense ratio, which is lower than PICK's 0.39% expense ratio.

Dividends

SIVR vs. PICK - Dividend Comparison

SIVR has not paid dividends to shareholders, while PICK's dividend yield for the trailing twelve months is around 2.20%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PICK iShares MSCI Global Select Metals & Mining Producers ETF	2.20%	2.88%	3.26%	4.19%	6.93%	5.89%	2.27%	5.51%	4.77%	2.41%	1.15%	15.77%
SIVR abrdn Physical Silver Shares ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIVR and PICK in my portfolio?

SIVR and PICK have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIVR or PICK?

SIVR has higher volatility (16.28%) compared to PICK (10.99%). In terms of maximum drawdown, SIVR dropped -75.85% vs PICK's -68.87%.

Which ETF is better, SIVR or PICK?

On 10-year performance, PICK leads with 17.67% vs 15.77% for SIVR. On fees, SIVR is cheaper at 0.30% per year. On volatility, PICK has been the lower-risk option at 10.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIVR or PICK?

Over the 10-year period, PICK has performed better with a 17.67% return vs 15.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIVR or PICK?

SIVR is cheaper with a 0.30% expense ratio, compared with 0.39% for PICK.

Which ETF pays a higher dividend yield, SIVR or PICK?

PICK has the higher dividend yield at 2.20%, compared with 0.00% for SIVR.

What is the main difference between SIVR and PICK?

SIVR is categorized as Silver, while PICK is Materials. SIVR tracks LBMA Silver Price ($/ozt), while PICK tracks MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver Investable Market Index. They also come from different issuers: abrdn and iShares. Their fees differ too: 0.30% for SIVR and 0.39% for PICK.

Which has better risk-adjusted returns?

PICK currently has the higher Sharpe Ratio (3.15 vs 1.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.